Sunrun Inc. $RUN Shares Sold by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN reduced its stake in Sunrun Inc. by 9.0%, now holding 153,988 shares worth approximately $1.26 million.
• Sunrun reported earnings of $1.07 per share for the last quarter, significantly exceeding expectations of a loss, and achieved a revenue of $569.34 million.
• Analysts have varied views on Sunrun's stock, with ratings ranging from "Strong Buy" to "Sell," and a consensus price target set at $15.60.

OLD National Bancorp IN cut its stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 9.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 153,988 shares of the energy company's stock after selling 15,283 shares during the period. OLD National Bancorp IN owned 0.07% of Sunrun worth $1,260,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RUN. MBL Wealth LLC purchased a new stake in Sunrun during the second quarter valued at about $101,000. PGGM Investments lifted its stake in shares of Sunrun by 316.6% in the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company's stock valued at $57,319,000 after purchasing an additional 5,325,332 shares in the last quarter. Greenleaf Trust purchased a new stake in shares of Sunrun during the 2nd quarter worth about $121,000. GC Wealth Management RIA LLC acquired a new stake in Sunrun during the 2nd quarter worth approximately $1,219,000. Finally, Sage Rhino Capital LLC purchased a new position in Sunrun in the second quarter valued at approximately $87,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Stock Performance

NASDAQ:RUN opened at $19.25 on Tuesday. The firm has a 50-day moving average of $15.02 and a two-hundred day moving average of $10.60. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The stock has a market cap of $4.44 billion, a P/E ratio of -1.66 and a beta of 2.41. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $20.02.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, topping the consensus estimate of ($0.18) by $1.25. The business had revenue of $569.34 million for the quarter, compared to analysts' expectations of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The company's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, research analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeanna Steele sold 20,426 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $19.35, for a total value of $395,243.10. Following the sale, the insider directly owned 393,267 shares of the company's stock, valued at $7,609,716.45. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mary Powell sold 3,142 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $16.93, for a total transaction of $53,194.06. Following the transaction, the chief executive officer owned 888,289 shares in the company, valued at $15,038,732.77. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,092 shares of company stock worth $3,464,174 over the last 90 days. 3.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RUN shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Sunrun in a research report on Saturday, September 27th. Zacks Research upgraded Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, September 8th. KeyCorp raised Sunrun from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. Mizuho boosted their price objective on Sunrun from $13.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Finally, Jefferies Financial Group raised Sunrun from a "hold" rating to a "buy" rating and upped their target price for the stock from $11.00 to $21.00 in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.60.

Sunrun Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.

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